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| September 17, 2012 |
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| $108M MEDICAL CENTER BREAKS GROUND IN DALLAS |
Rendering of the $108 million Charles A Sammons Trauma and Critical Care Tower.
DALLAS — Methodist Dallas Medical Center has broken ground on the new six-story, $108 million Charles A Sammons Trauma and Critical Care Tower, located in Dallas. The 248,000-square-foot trauma and critical care center will include 58 emergency room beds, six trauma suites, eight surgical suites and a 36-bed critical care unit. The hospital will also have the ability to expand to 11 stories for future growth. The construction will be supported by a $20 million BrightER campaign. Completion is slated for summer 2014.
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| TRANSWESTERN TO DEVELOP WESTGATE |
Rendering of Westgate, a Class A office project that will be located in the Energy Corridor.
HOUSTON — Transwestern, through a joint venture with Denver-based Miller Global Properties, has purchased a 20.8-acre tract of land to develop Westgate, a 660,000-square-foot, Class A office project to be located in the Energy Corridor of Houston. The site has extensive frontage on the north side of Interstate 10. Westgate will consist of a four-story, 248,500-square-foot building; a four-story, 186,000-square-foot building; and a five-story, 225,500-square-foot building, each of which will have its own parking structure. The development is 67 percent pre-leased. EE Reed will be the project's general contractor, and Powers Brown Architecture will design the project to achieve LEED Silver certification. Carleton Riser, Sean Suffel and Mark Miller of Transwestern are spearheading the design and development of the project. Jeff Peden and David Cook of Cushman & Wakefield represented the seller, Hearst Corp., in the land transaction. Transwestern was self-represented.
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| M&M BROKERS OFFICE BUILDING SALE |
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CORPUS CHRISTI — Marcus & Millichap has arranged the sale of a 12,080-square-foot office building, located at 438 Robert Drive in Corpus Christi. Jeff Smith of Marcus & Millichap's Corpus Christi office represented the seller, a limited liability company, in the transaction.
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| JOHNSON CAPITAL ARRANGES $23M MIXED-USE LOAN |
Rendering of a mixed-use development located at 5th Street and Lamar in downtown Austin.
AUSTIN — John Capital has secured a $23 million loan to refinance a 87,500-square-foot mixed-use development, located at 5th Street and Lamar in downtown Austin. The development also includes a four-level parking garage. The retail portion is leased by several tenants, including West Elm, and the office space is fully leased to HomeAway. Scott Monroe of Johnson Capital arranged the 10-year loan with a 30-year amortization schedule through a Wall Street conduit lender to refinance a construction loan.
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| SPEC'S LEASES THREE TEXAS LOCATIONS |
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HEBRON, THE COLONY AND LOWRY CROSSING — Houston-based Spec's Wine, Spirits & Finer Foods has leased locations in Hebron, The Colony and Lowry Crossing. The Hebron store, located at 2401 W. Parker Road, spans 12,000 square feet and is now open. Sam Gruner of Hank Dickerson Co. represented the landlord, One Emsee, in the lease transaction. The Colony store, located at the northeast corner of State Highway 121 and Blair Oaks, spans 20,000 square feet and is projected to open in the spring of 2013. Tommy Crowel of The Standridge Company represented the landlord, Memorial 121 Land, LTD. The Lowry Crossing store, located at 4100 E. State Highway 380, spans 14,261 square feet and also serves as the Spec's Collin County distribution facility. Gruner represented the landlord, Big Tex Lowry Crossing. Jeff Brand of Brand Capital Partners, along with Jody Detmore of SFP Brokerage, represented the tenant in all three lease transactions.
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Texas
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